Sterci, the international software provider of STP solutions, today announced the launch of a Service Oriented Architecture for payments in the context of SEPA compliance.
The European Commission is putting high pressure on financial institutions for the SEPA compliance in 2010. Most of the European banks have to re-engineer their payments applications in order to merge Euro domestic and Euro Cross-border channels. In the meantime the banks have to comply with SWIFTNet phase II and to set their strategy regarding their direct or indirect connectivity to TARGET 2 and the new Pan European ACH.
The Sterci solution, scalable, robust and secure, is built on BEA AquaLogic SOA infrastructure and includes the following key services:
- SWIFT connectivity FIN-FileAct-InterAct for easy access to SEPA compliant payments market infrastructures TARGET 2 and Pan European ACH.
- Bulking – Unbulking of low-value payments for Corporates to Bank as well as Bank to ACH file processing.
- RMA SWIFTNet phase 2 relationship management application to check the validity of the relation prior to issuing a payment.
- XML ISO 20022 data mapping (payments, funds, cash reporting, Exceptions & Investigations to easily bridge legacy application to the new standards
- AML filtering against black lists to comply with EU directives
- Reconciliation of any transaction including payments, forex, money market, securities Those re-usable services are delivered through SOA compliant Sterci existing products in the BEA Enterprise Service Bus.